CONTENTS:- Acknowledgment; Introduction; The consumption function; Malthus "Theory of Underconsumption"; Marx's theory of underconsumption; Hobson's theory of underconsumption; keynesian theory of effective demand; Comparative study of the various under consumptionist theories under study; Summary and relevance of the underconsumption theories in underdeveloped countries;
Books on underconsumption theories are rare; this book is an attempt to satisfy this desire of economists. Underconsumption theories started with the publication of B. Mandevilles' book 'The fable of the bees' in 1714. After an introductory chapter, the succeeding chapters deal at length the underconsumption theories of malthus, Marx, Hobson and Keynes, In chapter VII, the comparative study of the varous underconsumption theories is discussed. Finally in the last chapter, relevance of the theories of underconsumption to under developed countries is portrayed.